Niti Aayog has come out with an initiative to improve governance in states.
Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
The government on Thursday decided to ask the 13th Finance Commission to map the road for achieving fiscal deficit targets by including off-budget subsidies like oil, food and fertiliser bonds estimated at over Rs 100,000 crore (Rs 1,000 billion) in the Budget.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
What some of our leaders were up to on Monday and Tuesday.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
Kumar also questioned the prime minister on various promises made by his government including return of black money, enhanced MSP to farmers and special status to Bihar among others.
IThe fiscal deficit target for 2020-2021 was originally set at 3.5 per cent of GDP. But the government's revenues have collapsed and its expenditure burden will only increase over the Budget estimates.' With the government having already planned for an additional borrowing of over Rs 4 trillion, the fiscal deficit for the current year would be much higher than the Budget estimate, notes A K Bhattacharya.
'There is a misconception that the Centre gives money for the development of Delhi'
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
'A fragile Sri Lanka will have a serious impact on the security of India.'
The finance minister defended the change in the tax rates.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
Congress leader Adhir Ranjan Chowdhury's 'rashtrapatni' remark snowballed into a major political row on Thursday with the Bharatiya Janata Party accusing the opposition party of insulting President Droupadi Murmu and demanding that Congress chief Sonia Gandhi should apologise to the nation.
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5 per cent by FY15.
'The message is not clear whether we are wanted.' 'All this could adversely impact our strategy in India and also investments.'
The panel, to be headed by Reserve Bank of India Deputy Governor Shymala Gopinath, will review the structure of the National Small Savings Fund and give recommendations on making schemes more flexible and market-linked.
On the proposed Grand Alliance of the Congress and other parties in the state, Shah said the Telugu people had not forgotten how the Congress had treated their leaders like former (undivided) Andhra Pradesh chief minister Anjaiah and former prime minister P V Narasimha Rao.
As many as 449 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.29 lakh crore, according to a report. The ministry of statistics and programme implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,736 such projects, 449 reported cost overruns and 547 were delayed.
In far-reaching reform measures to the salary structure of an estimated 4.5 million central government employees, the sixth Pay Commission report submitted to the finance ministry today recommended an across-the-board effective salary hike of about 28 per cent, performance-linked increments, fewer holidays and a new medical insurance scheme.
The Centre's revenue deficit is expected to go up by 0.75 per cent of the GDP this fiscal following the implementation of the 12th Finance Commission recommendations, RBI said.
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
Days after cutting the salaries and other allowances of MPs and ministers, the government has passed instructions to all departments to reduce their expenditure by as much as 60 per cent from their first-quarter spending plans.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
State Higher and Technical Education Minister Chandrakant Patil also said that the government will introduce four-year degree courses from June 2023 as mandated under the National Education Policy and the universities will have to implement the decision.
The Centre will take a hit of Rs 26,000 crore (Rs 260 billion) in 2005-06 by implementing the twelfth finance commission's proposal of a higher share of central taxes, grant and debt relief to states.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
A well-functioning GST will enhance tax compliance and boost growth: IMF
"A solution has been put on the table. It is for Andhra Pradesh to decide whether they want the resources or they want to make an issue (out of it)," he said.
The BJP MLAs -- Vijender Gupta, O P Sharma and Jagdish Pradhan -- were evicted from the House after they trooped to the Well and raised slogans.
The state police have been looking for the Shiromani Akali Dal leader to arrest him.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Pakistan Muslim League-Nawaz president and Leader of Opposition in National Assembly Shehbaz Sharif, 70, who is the Opposition's candidate for the new prime minister, will announce his possible government priorities after taking the oath.
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